亚投行发起、运营与挑战.PDF

Policy Brief No. 2016.006 Jun. 15 2016 刘东民 sunshine_ldm@126.com 高蓓 gaobeibaby@163.com 亚投行：发起、运营与挑战 摘要：亚投行的成立是中国推动区域金融治理、促进亚洲经济合作的一个里程碑。中 国发起成立亚投行的背景主要是：亚洲基础设施投资不足；国际金融体系改革遭遇阻 力；作为全球第二大经济体的中国可以在区域经济治理中承担更大责任以及中国巨额 外汇储备的投资渠道单一。亚投行的筹备可以分为三个阶段，以英国等欧洲国家的相 继加入为重大转折点，这在股东结构上使得亚投行从原先的区域性金融机构转变为全 球性金融机构。亚投行在治理和运营方面的特征可以概括为开放、精简和灵活。亚投 行在未来的运营中要面对诸多挑战，包括评级压力、落实安全保障政策与实现业务运 营的高标准以及与现有多边开发性金融机构的合作等。 关键词：亚投行 区域金融治理 基础设施投资 安全保障政策，多边开发性金融机构 协调机制 Abstract: The establishment of the AIIB is a milestone for China to facilitate regional financial governance and promote regional economic cooperation. The backgrounds of initiating the AIIB are: short of infrastructure investment in Asia and in the world, resistance of the reform of the international financial system, China’s responsibility to promote the regional economic growth as the second largest economy in the world, demand for diversification of China’s foreign reserve investment. The AIIB’s preparatory work has three phases in which the joining of the UK and other European countries is a turning point, making the AIIB from a regional bank to a global bank in terms of its shareholder structure. The feature of the AIIB’s governance and operation may summarize as open, lean and flexible. The credit rating pressure, the pursue of safeguard policy and the cooperation with current multilateral development banks a